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Nikola (NKLA) Stock Sinks As Market Gains: What You Should Know
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Nikola (NKLA - Free Report) closed the most recent trading day at $2.61, moving -0.76% from the previous trading session. This move lagged the S&P 500's daily gain of 1.29%. Elsewhere, the Dow gained 0.78%, while the tech-heavy Nasdaq lost 4.94%.
Heading into today, shares of the pioneer in zero-emission trucks had gained 15.35% over the past month, lagging the Auto-Tires-Trucks sector's gain of 28.83% and outpacing the S&P 500's gain of 5.64% in that time.
Wall Street will be looking for positivity from Nikola as it approaches its next earnings report date. This is expected to be February 23, 2023. In that report, analysts expect Nikola to post earnings of -$0.46 per share. This would mark a year-over-year decline of 100%.
It is also important to note the recent changes to analyst estimates for Nikola. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.4% higher. Nikola is currently a Zacks Rank #2 (Buy).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 88, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Nikola (NKLA) Stock Sinks As Market Gains: What You Should Know
Nikola (NKLA - Free Report) closed the most recent trading day at $2.61, moving -0.76% from the previous trading session. This move lagged the S&P 500's daily gain of 1.29%. Elsewhere, the Dow gained 0.78%, while the tech-heavy Nasdaq lost 4.94%.
Heading into today, shares of the pioneer in zero-emission trucks had gained 15.35% over the past month, lagging the Auto-Tires-Trucks sector's gain of 28.83% and outpacing the S&P 500's gain of 5.64% in that time.
Wall Street will be looking for positivity from Nikola as it approaches its next earnings report date. This is expected to be February 23, 2023. In that report, analysts expect Nikola to post earnings of -$0.46 per share. This would mark a year-over-year decline of 100%.
It is also important to note the recent changes to analyst estimates for Nikola. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.4% higher. Nikola is currently a Zacks Rank #2 (Buy).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 88, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.